HONG KONG -- Wong's Kong King reported 2015 net sales fell 15% year-over-year to HK$4.9 billion ($631.8 million), as the conglomerate's EMS business revenue sank 21%.

Overall net profit was HK$47 million ($6.06 million) as compared to HK$66.6 million a year ago. The 2014 figures included a profit of HK$23.7 million related to the sale of a property in Singapore.

Sales at WKK's EMS busines decreased 21% to HK$3.2 billion ($412.6 million) as compared to last year, due mainly to a cyclical reduction in the sales volume of some of the OEM products. Operating profits were down 11% to HK$53.4 million, a result of a shift in sales mix toward higher margin products and cost-cutting measures. 

The company's Industrial Products Trading and Distribution division reported sales of HK$1.6 billion ($206.3 million) in 2015, down 2% as compared to last year. The operating profit was HK$51.9 million, up HK$13.2 million over 2014. The sale of PCB related products, and the operations in Taiwan contributed a major part of the division’s profit. All of the Division’s major operations recorded improvements in operating profits with the exception of the trading operations in the PRC which recorded a slight drop. 

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